Freddie Mac (OTC:FMCC) Trading Up 1.2% – What’s Next?

Freddie Mac (OTC:FMCC) shares were up 1.2% on Thursday . The company traded as high as $6.78 and last traded at $6.66. Approximately 3,043,233 shares changed hands during trading, an increase of 16% from the average daily volume of 2,619,196 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating for the company in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus price target of $9.00.

Freddie Mac Price Performance

The firm has a 50-day moving average price of $8.33. The firm has a market capitalization of $4.33 billion, a PE ratio of -333.00 and a beta of 1.79.

The Federal Home Loan Mortgage Corporation, known as Freddie Mac, is a government-sponsored enterprise created by Congress in 1970 to support the U.S. secondary mortgage market. Its statutory mission is to provide liquidity, stability and affordability to the nation’s residential mortgage market by buying mortgages from lenders, packaging them into mortgage-backed securities (MBS), and guaranteeing the payment of principal and interest to investors in those securities.

Freddie Mac’s core activities include purchasing mortgages originated by banks and other lenders, securitizing pools of single-family and multifamily loans into agency MBS, and offering credit risk-transfer and liquidity tools designed to broaden access to mortgage finance.